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Virtue signalling politicians are trying to kill off private vehicles powerd by petroleum, but are they just handing economic advantage to our commercial rivals in the far east. While western political elites obsseesed with pandering to the climate change scaremongers are imposing impossible reglulatory burdens on car makers because they do not understand the technology, car makers in China, Japan, India, Korea and elsewhere have no qualms about pumping a bit of the harmless, life supporting gas CO2 into the air

Picture: Zero Hedge

Authored by Irina Slav via OilPrice.com,

European carmakers are facing what could turn out to be a major crisis cooked up by EU regulators, and it’s all about EVs and emissions. The former are supposed to help solve the problem with the latter, but the likelihood of success is uncertain because there are literally millions of variables: car buyers.

The EU has been enforcing emission caps on cars since 2012. Until this year, this cap has been an average of 130 grams of CO2 per kilometer for all new passenger cars. Beginning next year, however, this would be reduced further to 95 grams of CO per km. In fuel consumption, the 130 g/km cap corresponds to an average 5.6 liters of gasoline per 100 km while the 95 g/km cap corresponds to 4.1 liters per 100 km.

Europe’s big carmakers are lining up the EVs. Volkswagen alone is planning four new EV models for 2020, after earlier this month it unveiled its first mass production affordable EV, the ID3. More models should be coming from the top carmaker in the next few years and its rivals will not be sitting idly by. Everyone who makes cars in Europe has an electric lineup… but there are no guarantees that people will want to buy those cars.

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More Fake News Supporting Electric Cars

 

Another advertisement in The Telegraph today for electric cars, this on claining it only costs £4 to charge the batteries to the same level as filling the tank of a conventional car.

I fill up my car’s tank for just £4′: have electric cars reached tipping point?

Screams the headline over a picture of a couple of proud (and surprisingly unburned) Tesla owners and their pride and joy, £75,000 worth of what looks like a family sized car with nothing special about it, apart from the fact that by the time you get to the end of the street you will probably need to stop for several hours to recharge the batteries.

Tony Cuthbert with £75,000 Tesla (picture Telegraph)

 

But does the owner’s boast stand up to scrutiny?

The cost of owning an electric car could come down to equal petrol and diesel within two years, according to auditor Deloitte, but for savvy drivers, going green could already make financial sense  the Telegraph says.

The market for electric vehicles (EVs) is growing at a rapid rate, with the number of models available set to exceed 200 in the next two years. Analysts predict another 10 million electric cars will be on British roads by the end of the next decade. But while the number of models has increased, growth in the numbers of actual sales is positively sluggish.

As combating climate change becomes increasingly important to many consumers, according to maker’s publicity, yet electric cars accounted for only 1.15% of global sales in 2017. I could not find a figure for 2018, but reports say there was modest growth. There are also reports that energy providers are flooding the market with innovative tariffs specifically aimed at drivers of electric cars, but here too the low cost of energy does not compensate for the high initial cost of installation. .

Tony Cuthbert, 59, from Gateshead, has been driving his Tesla Model S for just over a year after deciding he could be doing more to save the planet. His conscience has paid off as the company’s national network of free-to-use charging points, combined with cheap energy at home, means his running costs have fallen. Mr Cuthbert, an IT manager, mainly charges his vehicle overnight at home. He uses Octopus Energy’s Go EV tariff, which provides power at the reduced rate of 5p per kilowatt hour for several hours overnight, meaning a full charge of the Tesla costs around £4.

 

It costs £4 to fill up the tank because the tank isn’t very big.

At 14p/kWh, £4 would get you 28kWh of electricity. 1 litre of petrol is equivalent to 10kWh.

Electric engines are more efficient, so it would give you the same number of km as 5kWh.

£4 is therefore the equivalent of putting 6 litres of petrol in your car, which would cost £7.38 at £1.23 per litre, which is what I paid on Thursday.

The tax on £7.38 (6 litres) of petrol is £4.82, meaning it costs £2.56 for the actual petrol. The tax on £4 of electricity is 19p, meaning the actual electricity costs £3.81. So the only reason electricity is cheaper for filling your car is because the tax is cheaper.

And while it does not entirely account for the discrepancy, I guess the tax is cheaper partly because electricity doesn’t pump exhaust fumes into the air as much at the point of use as petrol/diesel do, but simply moves the dirt to the places where mining of materials and manufacture of batteries takes place, (i.e. not in countrys that have committed to zero carbon targets.

When a newspaper publishes an advertisement disguised as an article isn’t there some law that says readers must be clearly informed the content is advertising material.
The article is just another ad for EVs and Tesla in particular, none of the problems of EVs are mentioned, not even the tendency of Tesla vehicles to barbecue theior occupants.

It isn’t until we get to the comments we read of the vast subsidies governments are giving EV makers due to the punitive taxes on petrol and diesel, or the absolutely filthy and energy intensive industrial processes involved in manufacturing batteries (especially the mining and refining of rare earth metals,) and the equally filthy and energy intensive processes involved in recycling or scrapping batteries.

 

 

Unplugged Tesla Model S Spontaneously Ignites While Parked In San Francisco Garage

With governments and academics seemingly set on persuading us all to switch to electric cars very soon, electric cars themselves, and those made by Tesla in particular, seem intent on proving they are not only ridiculously expensive, hopelessly inefficiant and unarguably not fit for purpose. As more Teslas are sold and delivered, increasingly the model range of appear to be spontaneously combusting more regularly than Spinal Tap drummers as a result of shoddy production, careless quality control or a reckless disregard of safety considerations in the quest to make the cars get further than the end of your street you live in before the batteries need to be rechrged.

from Zero Hedge
In the latest embarrassing spontaneous combustion incident, a Tesla caught fire in a San Francisco garage last night, prompting an investigation from authorities, according to the local KRON 4 TV station.

The San Francisco Fire Department responded to a reported car fire just after midnight at a home on the 1300 block of 26th Avenue near Irving Street. The crews saw “smoke near the rear right tire of a Tesla Model S” that was not plugged in at the time and put out the fire.

The Tesla was then towed from the garage by the fire department. There were no reported injuries at press time.

This was the second incident in which a Tesla reportedly caught fire after smoke started to spontaneously emerge from beneath the car in as many weeks.

Two weeks ago we were first to report on a stunning video that showed a Tesla catching fire and exploding while parked, in China. Similar to the event in San Francisco, smoke can be seen billowing out from underneath the vehicle before it burst into flames.

Luckily, nobody was in the vehicle at the time of the Chinese “incident” which Tesla said it is investigating.

Given this latest incident, the question remains: how long will US regulators allow these cars to continue bursting into flames on their own, without probing into the reasons for the recurring incidents or demanding a recall? How long will they allow this game of flaming Russian roulette continue? And unfortunately, we also have to ask: the next time a car catches fire on its own, will there be passengers in it?

At the least, it certainly makes you think twice about whistleblower Martin Tripp’s allegation that Tesla was letting defective battery cells make their way into vehicles rolling off the line. We will be updating this story as more details become available.

MORE on Tesla:

 

Tesla end game?

Billionaire Investor Erik Prince Launches Fund For Electric Car Metals

A couple of weeks before the turn of the year I wrote a comment under an article singing the praises of electric and hybrid cars, the usual ‘clean, green, sustainable, transport of the fuutre spiel. Now I did not get into the usual criticisms, poor range, length of time to recharge, massive upgrades to the electricity distribution system to support ‘fast chargers’ which are still painfully slow compared with pumps that pump liquid. Nor did I point out the technical problems that will beset these vehicles when they start to be used outside towns and away from the coastal strip. In short, they don’t do hills. OK I know some plank is going to say “Ah but regenerative braking systems mean they generate electricity when going down hills,” and OK that is true, but what is generated going down is a tiny fraction of what is used to haul car, driver, passengers and battery pack up.

Instead of all that I settled for pointing out that as well as electricity which is mostly generated by coal, other finite resources are essential to the manufacture of these electric vehicles which some stupid politicians say will totally replace fossil fuelled cars and trucks by 2040, (yes I might be talking about you Monsieur Macron you idiot, or you Mr. Treudeau, you plonker.) There are currently an estimated 1.4 billion cars and light goods vehicles on the roads of our planet, and there is not enough lithium in reserve stocks to make battery packs for a tenth of that number. And then there is cobalt, needed in far smaller quantities but a far less plentiful resource and most of the known reserves are controlled by China. And if they dominate the market in a resource the west needs they ain’t going to be giving the stuff away.

Naturally I was mocked and ridiculed for going against the official narrative that electric will smoothly replace gasoline over the next couple of decades. Fortunately I don’t take any more notice of the voices that bounce around the liberal echo chamber of the internet than I do of politicians who are trying to buy your vote so they can use it in the cause of enriching their paymasters, or of mainstream media, where the propaganda of the establishment is endlessly parroted.

It was of course gratifying to learn that people who matter agree with me. Today the Financial Times welcomed the New Year with a report that Erik Prince, the founder of Blackwater, the private security giant intends to launch a $500m investment fund to capitalize on the rush to secure investments in the metals required for batteries that power electric cars.

cobalt mining congo
Cobalt mining in Congo, child labour is common and slave labour possible (western companies contract out work to local agents,), workers rights and safety regulations are non existent. (Source: http://www.trwn.org/wp-content/ )

 

Prince, an adviser to president Trump and brother of White House official Betsy DeVos told the FT,  “For all the talk of our virtual world, the innovation, you can’t build those vehicles without minerals that come from generally weird, hard-to-access places.”

He’s correct of course, and the more the world comes to rely on electronic technology, particularly mobile technologies, the more competition there will be for these finite resources. As I wrote back in 2010, for years due to pressure from the greeny – weeny, weirdie – beardie faction, because the mining and refining of these rare earth metals is a filthy and energy intensive process, the developed nations have been handing control of such vital resources to nations with are not exactly friendly to our governments or way of life.

Mining companies in China, Russia, India, Brazil and Australia have been investing billions into these essential metals as the electric vehicle industry expands, which include cobalt, neodymium, gold, tellurium and terbium  as well as copper and lithium.

One of the largest investors has been China, with Chinese companies buying stakes in deposits in the Democratic Republic of Congo and in Chile this year. Mr Prince also runs a Hong Kong-listed security and logistics company that is backed by China’s state-owned Citic Group. –Financial Times

Prince’s new fund will operate in exploration and securing rights to as yet unknown deposits before selling them on to larger mining companies, and, Prince told the FT, will be looking to cash in its investments and devote the revenue to new projects within four or five years.  his experience in providing private armies to secure assets in well known trouble spots should prove invaluable.

It is well known that Chinese companies have little interest in speculative  exploration, which leads Prince believe creates a gap in the supply chain he hopes to fill.”

More than 60 percent for the world’s cobalt supply originates from the Democratic Republic of Congo, a nation plagues by tribal and political conflicts which has scared off western investment and has opened the door for Chinese companies including Jinchuan Group and China Molybdenum to pour billions into developing the sites.  Apart from high altitude salt lakes in Chile, the onlt other known area from which lithium is easily extractable is Afghanistan, not the easiest place for foreign interests to operate.

Prince first came to public attention as the founder of Blackwater – the world’s most famous private military contractor which has been targeted with lawsuits alleging civilian deaths in Iraq, including a 2007 incident in Nisour Square, Baghdad, where 17 civilians were killed and 20 injured after Blackwater guards claim their convoy was ambushed. And FBI investigation concluded that at least 14 of the 17 Iraqis were shot without cause.

Since selling Backwater in 2010, Prince has been at the helm of Frontier Services Group, which provides logistics support and security services to companies operating in politically unstable countries. They have provided anti-piracy operations to Somalia and security for oil companies operating in strife – torn South Sudan. Prince himself is a former US Navy SEAL, now resident in Abu Dhabi, his long established business links with China will certainly give him a head start in this new venture. A bauxite (aluminium ore,) mine in Guinea this year secured a contract to supply Chinese state – owned aluminium smelter with ore.

MORE ON RARE EARTH METALS AND ELECTRIC CARS
Rare-earth metals in magnets for electric-car motors
A Scarcity of Rare Metals Is Hindering Green Technologies
Rare Earth Elements: A Beginners Guide

Information on the chemical nature, physical properties and uses of rare earth metals.


Rare Earth Elements And Their Uses

Information on mining, extraction and refining processes.

House battery to store energy will ‘change entire infrastructure of the world’ – or maybe not
Another costly new product hailed as a breakthough in technology, this time a clutching-at-straws exercise from the failing electric car company Tesla, completely fails to live up to the hype under scrutiny. Hailed as a super battery, a mjor advance in battery technology that will change the world to store power for a household, it turns out to be nothing more than a streamined car battery. It will run the average home for about 2 hours.

Flight From FreedomFleeing from freedom seems like a contradiction, after all we usually asdsiciate flight with escaping from captivity. In this first part of Existentialism for Beginners however the author identifies a human instinct that predisposes us to seek illusory safety by conforming and being part of the crowd rather than embarking on the lonely life of the free thinker, the person who truly makes their own decisions and follows their own path.

Electronic Tattoos To Replace Passwords and Pin Numbers?
Science was ever fascism’s whore. A warning about the latest wheeze the science tits have developed for their Fascist bosses, RFID tattoos. The plan is these things will keep tabs on everything you do all the time and you will not be able to access the internet, your mobile phone or your bank and credit card accounts without one.

Drivers Cool About Electric Cars
Have you purchased your new, clean, green, politically correct, all electric car yet? No? I thought not. Neither have I. It is not so much that I hate the enviroment or that I do not want to support the fabulous clean, green, sustainable job creating indistries fabulous, clean, green Dave has promised us will lead …

GM Food Needed To Avert World Food Crisis

The GM Foods Nazis are revving up for a good whine again. Professor Sir John Beddington said there was no scientific qick fix to the ”enormously serious” problem of producing enough fod to feed the world’s rapidly growing population in the future as we face problems such as climate change, population growth and energy shortages. He told BBC Breakfast News: ”If there are genetically modified (GM) organisms that actually …


Iceberg Alley BluesWe must stop using oil say the politicians and scientists as it becomes more imperative that exploration begins in Iceberg Alley off the Canadian Coast, elsewhere in the Arctic and in other sensitive locations. They are just trying to soften us up for carbon taxes of course. Nobody knows better than politicians that the world runs on oil and that alternative non polluting sources are a long way short of being able to supply energy needs ….

Coal Fired Power Stations Win ReprieveIn what looks like a u-turn on green energy policy the coalition government have abandoned plans to support and subsidiese operators of sustainable energy generating plants. While environment activists and green campaigners are calling this a betrayal the case may well be that in the harsh reality of governing claims made by green energy firms look totally unrealistic …

Tesla Driverless Cars World Domination Plan Hit By Another Crash
Electric carmaker Tesla, whose founder Elon Musk recently showed the kind of ignorance of human nature that typifies Silicon Valley billionaires when he smugly predicted the whole world would be letting driverless cars ferry them around by 2030, is preparing an updated “secret masterplan” as the company looks to rebound from concerns over the safety …

BHP Drops Bid For Potash of CanadaMining giant BHP Billiton has abandoned its takeover bid for fertiliser group Potash Corporation after it was blocked by the Canadian government. We should start to appreciate Canadians more perhaps. A few months ago The Daily Stirrer was praising two Canadian sceptics for exposing …

The Growing Problem Of Rising Food PricesWhile the warmists rant about carbon and the Church of Scienceology Cult rave about climate science. there are threee real and immediate problems facing us that nobody is talking about. These are overpopulation, water shortage and food price inflation. This article deals with food prices, links at the bottom lead to our posts on population and water scarcity.

How Our Creature Comforts Are Baking The WorldAs the arguments rage on between the Climate Science Wankers lobby and the sceptis, realists and out and out deniers we observe that still nobody who gets media coverage, nobody who is talking sense about climate chaos, carbon based fuels, deforestation or over population is really being heard. Quite simply there are too many of us and we want too much. Who needs science or politics to understand that?

Next Boss Warns On Cotton Price IncreasesAs the boss of a major UK clothing and fashion retailer warns of the likely impact of rising cotton prices on the cost of clothing John De Roe revisits on of The Daily Stirrer’s recurring themes throughout the economict crisis, overpopulation.

Food Will Cost The EarthA bid by Australian mining giant BHP Billiton to buy Potash Corp of Canada draws attention to food price inflation, rising commodity prices in world markets and an impending global food supply crisis. It is not just potash, essential in food production, but other finite resources like oil that corporate giants are bidding to gain control of that should concern us.

Vertical Farming: The Looniest Idea Yet For Saving The PlanetClimate Science is a strange discipline. Part trainspotting, part trekkie convention going, it combines an almost autistic obession with collcting details, a very autistic obsession with focusing on a single theme and a fantasist’s capacity for self deception and a taste for mutual masturbation. The latest loonytoons idea for saving the planet involves turning skyscraper buildings into farms growing food for urban populations. Apart from increasing the cost of food by 1000% and increasing rather than reducing the carbon footprint of food production the idea is so insane noboy could ever take it seriously. Nobody that is except scientists, politicians, academics and the media.

The Futility Of Wind Farms.In some ways the Conservative / Liberal Democrat coalition has made quite a good start in government. One area they are set to fail badly however is energy. Driven by politically correct thinking the coalition are set to follow Labour down the road that goes through wind power and eventually leads nowhere. Wind turbines look fine on paper. If they generate at their optimum output for 365 days a year the contribution to energy needs looks like a viable business proposition. The problem is due to the limitations of the technology and the vagaries of the weather wind farms are doing well if they operate at a quarter of their potential output.

Climate Change Crooks And LiarsThough climate change alarmists claim that that “the science is settled” no longer holds water the arguments rage on. If anything they are getting more heated as the climate science lobby, knocked from the moral high grounds show their true colours. But more and more evidence is showing the climate change science was never settyled and the global warming Armageddonists had built their whole case on very flimsy evidence.

Brand New Tesla Model S Spontaneously Combusts And Spontaneously Comusts Again

It is well known that Tesla Model S Cars, like Spinal Tap drummers, have a tendency to spontaneously combust. There have been several instances in the past two years, usually occurring after an accident or collision, not always immediately after but several days after. This led one safety expert in California to suggest there is a serious problem with the battery pack.

Tesla Cars deny there is a problem of course, well they would, wouldn’t they? In a recent court hearing over one case the company bizarrely claimed that one of it’s cars had burst into flames after somebody fired a bullet into the battery pack.

But now there has been a case of spontaneous Tesla Model S combustion (perhaps that’s why they call it the model S,) that does not involve a bullet, or a collision

A Tesla Model S that was not being worked on or driven  spontaneously combusted on Tuesday, catching fire in a tyre shop parking lot near the Bay Area, San Francisco according to NBC news. After the fire department arrived and the Tesla was subsequently towed away, it then reignited a second time at a tow yard.

The owner of the tyre shop said after the vehicle arrived on a tow truck, they noticed a “hissing sound” coming from it shortly before the vehicle went up in flames. The batteries in the vehicle continued to burn long after the flames were put out, the fire department concluded, and there was no indication that anyone was shooting at the batteries this time.

“It’s a brand new car, I just got it three months ago, there’s only 1200 miles on the car,” the owner told NBC Bay Area. The report stated that the owner will likely not replace the car with another Tesla due to “a lack of customer service” and “safety concerns”.

“No more Teslas,” the driver told NBC. “If this car was in the house and we were on vacation, and this thing caught fire in the garage, the whole house could go under!”

Watch a video of the Tesla Model S AutoBBQ feature being demonstrated.

 

 

FBI Is Investigating If Tesla Misstated Info About Model 3 Production

 

Tesla car crash – Elon Musk doesn’t do things by halves (picture: indianexpress.com)

Electric Vehicle maker Tesla, which released astounding Q3 figures yesterday, suggesting the company had turrned a $1billion plus loss in Q2 into a multi million surplus in the third quarter of this year (more on that a little further down the page,) looks to be courting more trouble from Stock Market regulators, and simultaneously tempring the FBI to get involved.

While we already know that following a statement by loony CEO Elon Musk to the effect that he was taking the public company private, a move that netted Musk millions as the value of his holding soared, but resulted in a regulatory investigation as Musk did not have the finance to carrry out the change,  a second SEC investigation is taking place in relation to Tesla’s Model 3 production, because Tesla overstated production figures after news was leaked that production was well short of the break – even target. This afternoon the Wall Street Journal dropped a bombshell  by revealing that a Department of Justice investigation into Model 3 production numbers was also not only was taking place, but was also intensifying.

According to the Wall Street Journal, the FBI is examining whether Tesla misstated information about production of its Model 3 dating back to early 2017. Action in the criminal investigation is reported to have intensified since Musk settled with the SEC last week.

The Journal also reports that the FBI has contacted former Tesla employees for testimony in the criminal case. Many former employees have received subpoenas and have been interviewed by the FBI.

Tesla shares quickly dropped almost $25 off highs on the news before bouncing after releasing its own response, stating it has only received a “voluntary request for documents” and not a subpoena. If people believe any statement from Tesla any more they deserve to lose their money.

Here’s what an experienced US market analyst had to say about those third quarter profits yesterday:

Analyst Erupts At Tesla: “They Used Every Trick From Every Fraud To Put Lipstick On Q3 Results”

by Adventures in Capitalism

On October 11, I noted that “…I have booked all of my Tesla (TSLAQ – USA) Jan 2019 250/175 put spreads after owning them for almost a year, at a reference price of $255 compared to a reference price of $320 when I first wrote about them. While I am certain that Tesla collapses in the near future, all evidence seems to show that they’ve used every trick from every financial fraud over the past 100 years to put lipstick on the Q3 financial results.” Modern day Ivar Kreuger has not disappointed.

Over the years, I have purposefully kept accounting and numbers to a minimum on this site—they’re “boring.” Besides, if you must use a fancy spreadsheet to prove a point, then your thesis isn’t very good to begin with. The numbers should fit onto a bar napkin after a full night of drinking. Unless, of course, you suspect fraud—in that case, numbers and financial ratios are everything. With that out of the way, let’s delve into the Q3 Tesla numbers.

Big picture, from Q2 to Q3, there was a sequential improvement in operating income of $1.038 billion, and they delivered 43,007 incremental cars. That’s $24,140 per incremental vehicle on a car that is retailing for as little as $49,000. No other auto OEM even comes close to that. Something simply doesn’t add up—so I went looking for it.

I get that when revenue grows, you get operating leverage. This can be seen where SG&A as a percentage of revenue declined for 4 sequential quarters (green). This is normal. You would expect with a huge increase in Q3 revenue, that there would be more operating leverage. Would you expect that SG&A drops 2.8% sequentially on a 70.5% increase in revenue (red)? That’s not how manufacturing companies work. The expense is obviously still there, we just don’t know where they hid it…

Meanwhile The Daily Telegraph was running a story about how lousy electric cars are when faced with real, open road driving conditions (they don’t like hills according to this road test, carried out in southern England. Imagine driving one round the Lake District, the north Pennines, Snowdonia or the Scottish Highlands.

Tesla’s Single Point Of Failure

Interesting and well researched article comparing the success of Ford with the chaotic meltdown of Tesla.

Tesla crash and burn

Authored by Chris Whalen via TheInstitutionalRiskAnalyst.com,

Watching the meltdown of Tesla Motors (TSLA) founder and CEO Elon Musk last week unfold in the pages of The New York Times, we are reminded that enterprises need both vision and operating smarts to be successful. It was obvious years ago that Elon Musk needed help to build a new car company. Yet somehow the members of the board of directors of TSLA did nothing as Elon Musk led this extraordinary endeavor.

We noted in Ford Men: From Inspiration to Enterprise that Henry Ford had the vision thing, but his partner James Couzens turned the idea into a successful business. So bad was his reputation for tinkering and racing that Ford was not even an officer of Ford Motor Co (F) when it was founded, but he had an idea.

Thanks to Jim Couzens, in less than a decade that idea Henry Ford nurtured exploded into one of the great American fortunes, a transformational fortune built on manufacturing. The business was wildly successful and repaid its investors and more in the first year. And thanks to another Ford Man, engineer Charles Sorensen, Ford Motor Co invented the assembly line that enabled the company to meet the astronomical demand for cars a century ago.

Musk is no Henry Ford, but TSLA is the latest case in point to the lesson that solitary leaders often fail. No matter how brilliant or inspired, most of us need the moderation and help of business partners, directors and investors to make an enterprise succeed and endure.

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Readers may think my tracking of the Tesla meltdown is a case of a Musk hater wallowing in schadenfreude. Not so, I think Musk is a dick who has made the mistake of believing his own hype, but what has really appalled me is the Tesla fiasco shows the business community learned nothing from the the dotcom bubble’s bursting in 1999 / 2000. Once again in recent years thay have jumped on the bandwagons of Silicon Valley start ups, abandoning caution and common sense when it should have been clear the wheels would drop off the first time they encountered a bump in the road.